Marqeta, Inc. (MQ) Key Metrics
MQ valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.95B
- Enterprise value
- $994.7M
- P/E (TTM)
- 186.9
- Forward P/E
- 30.5
- PEG ratio
- 1.35
- Price / sales
- 2.9 10-yr median 4.5
- Price / book
- 2.3 10-yr median 2.9
- EV / EBITDA
- 47.8
- Dividend yield
- —
- Beta
- 1.21
MQ key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMQ valuation Price multiples at each fiscal year-end price.
MQ returns How much profit the business earns on the capital it uses.
MQ per-share figures Results divided by the shares outstanding at year-end.
MQ financial health Debt, liquidity and how easily interest is covered.
MQ efficiency & capital use Working capital cycle and where the cash goes.
MQ valuation history
MQ returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MQ debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MQ cash returned to shareholders
MQ price vs earnings per share
MQ key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $2.20B | $1.97B | $3.72B | $3.33B | $9.30B | — | — |
| Enterprise value | $1.14B | $877.2M | $2.48B | $1.72B | $7.60B | — | — |
| P/E ratio | — | 72.1 | — | — | — | — | — |
| Price / sales | 3.5 | 3.9 | 5.5 | 4.5 | 18.0 | — | — |
| Price / book | 2.9 | 1.8 | 3.0 | 2.3 | 5.9 | — | — |
| Price / free cash flow | 13.7 | 35.3 | 439.7 | — | 171.4 | — | — |
| Price / operating cash flow | 13.5 | 33.8 | 176.1 | — | 163.2 | — | — |
| EV / sales | 1.8 | 1.7 | 3.7 | 2.3 | 14.7 | — | — |
| EV / EBITDA | 82.2 | 19.3 | — | — | — | — | — |
| EV / free cash flow | 7.1 | 15.7 | 293.9 | — | 140.1 | — | — |
| Earnings yield | −0.6% | 1.4% | −6.0% | −5.5% | −1.8% | — | — |
| Free cash flow yield | 7.3% | 2.8% | 0.2% | −0.5% | 0.6% | — | — |
| Shareholder yield (dividends + buybacks) | 17.8% | 7.9% | 5.1% | 2.3% | 0.3% | — | — |
| Share price at fiscal year-end | $19.00 | $15.16 | $27.92 | $24.44 | $68.68 | — | — |
| Per share | |||||||
| Revenue per share | $5.41 | $3.91 | $5.08 | $5.49 | $3.82 | $2.16 | $1.07 |
| Earnings per share | −$0.12 | $0.21 | −$1.67 | −$1.36 | −$1.21 | −$0.36 | −$0.43 |
| Operating cash flow per share | $1.41 | $0.45 | $0.16 | −$0.10 | $0.42 | $0.37 | −$0.11 |
| Free cash flow per share | $1.39 | $0.43 | $0.06 | −$0.12 | $0.40 | $0.36 | −$0.15 |
| Cash per share | $9.34 | $8.50 | $9.39 | $11.92 | $12.65 | $2.76 | $1.16 |
| Book value per share | $6.59 | $8.36 | $9.34 | $10.80 | $11.63 | $2.15 | $1.02 |
| Tangible book value per share | $4.81 | $7.18 | $8.14 | $10.80 | $11.63 | $2.15 | $1.02 |
| Dividends per share | — | — | — | — | — | — | $1.07 |
| Capex per share | $0.02 | $0.02 | $0.10 | $0.03 | $0.02 | $0.02 | $0.04 |
| Debt per share | $0.19 | $0.10 | $0.13 | $0.09 | $0.11 | $0.14 | $0.15 |
| Shares outstanding | 115.5M | 129.7M | 133.1M | 136.3M | 135.3M | 134.3M | 134.3M |
| Change in shares outstanding | −10.9% | −2.6% | −2.4% | +0.7% | +0.8% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | −1.5% | 2.3% | −16.4% | −12.1% | −17.6% | −22.4% | −42.4% |
| Return on assets (ROA) | −0.9% | 1.8% | −13.3% | −10.3% | −14.3% | −14.0% | −26.1% |
| Return on tangible assets | −1.1% | 2.1% | −15.6% | −10.4% | −9.0% | −10.4% | −26.1% |
| Free cash flow margin | 25.7% | 11.0% | 1.3% | −2.3% | 10.5% | 16.5% | −14.2% |
| Income quality (OCF / net income) | — | 2.13 | — | — | — | — | — |
| Financial health | |||||||
| Total debt | $21.8M | $13.2M | $16.9M | $12.4M | $15.4M | $18.2M | $19.7M |
| Cash & short-term investments | $1.08B | $1.10B | $1.25B | $1.62B | $1.71B | $370.3M | $155.6M |
| Net debt | −$1.06B | −$1.09B | −$1.23B | −$1.61B | −$1.70B | −$352.1M | −$135.8M |
| Debt / equity | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 | 0.06 | 0.14 |
| Debt / assets | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 | 0.09 |
| Net debt / EBITDA | −76.46 | −23.92 | — | — | — | — | — |
| Current ratio | 1.65 | 3.37 | 4.13 | 6.17 | 7.56 | 3.05 | 3.07 |
| Quick ratio | 1.65 | 3.36 | 4.11 | 6.16 | 7.54 | 3.05 | 2.85 |
| Interest coverage | — | — | — | -8.4 | -63.2 | -90.4 | -84.3 |
| Working capital | $486.3M | $878.3M | $1.05B | $1.46B | $1.56B | $289.8M | $132.9M |
| Invested capital | −$295.7M | −$4.2M | $10.6M | −$139.3M | −$123.2M | −$64.0M | $1.5M |
| Tangible asset value | $555.9M | $931.7M | $1.08B | $1.47B | $1.57B | $288.2M | $137.3M |
| Net current asset value | $472.2M | $871.1M | $1.04B | $1.45B | $1.54B | $261.4M | $111.4M |
| Graham number | — | $6.29 | — | — | — | — | — |
| Graham net-net per share | $3.56 | $6.28 | $7.42 | $10.20 | $11.08 | $1.73 | $0.72 |
| Capital allocation | |||||||
| Dividends paid | — | — | — | — | — | — | $144.1M |
| Share buybacks (net) | $391.4M | $154.4M | $190.4M | $78.1M | $23.6M | $80,000 | $35,000 |
| Dividends + buybacks / free cash flow | 243.4% | 277.0% | — | — | 43.4% | 0.2% | — |
| Capex / revenue | 0.3% | 0.5% | 1.9% | 0.5% | 0.5% | 0.8% | 3.4% |
| Capex / operating cash flow | 1.1% | 4.2% | 59.9% | — | 4.8% | 4.7% | — |
| Capex / depreciation | 0.07 | 0.14 | 1.18 | 1.02 | 0.78 | 0.68 | 1.59 |
| Stock-based compensation / revenue | 16.8% | −1.6% | 26.7% | 14.4% | 27.6% | 9.7% | 15.2% |
| R&D / revenue | — | — | 8.2% | 7.0% | 6.5% | 4.6% | 5.4% |
| SG&A / revenue | 59.4% | 55.6% | 78.1% | 59.8% | 66.3% | 49.3% | 70.7% |
| Efficiency | |||||||
| Days sales outstanding | 71.4 | 82.0 | 51.3 | 33.4 | 34.4 | 42.7 | 67.4 |
| Days of inventory on hand | 5.5 | 9.4 | 5.0 | 3.9 | 3.0 | 15.5 | 60.9 |
| Days payables outstanding | 408.8 | 434.0 | 169.0 | 115.0 | 130.7 | 119.8 | 143.9 |
| Cash conversion cycle (days) | -332.0 | -342.7 | -112.7 | -77.7 | -93.2 | -61.7 | -15.5 |
| Receivables turnover | 5.11 | 4.45 | 7.12 | 10.92 | 10.60 | 8.55 | 5.41 |
| Payables turnover | 0.89 | 0.84 | 2.16 | 3.17 | 2.79 | 3.05 | 2.54 |
| Inventory turnover | 66.71 | 38.86 | 73.30 | 94.21 | 120.94 | 23.61 | 5.99 |
| Asset turnover | 0.42 | 0.33 | 0.40 | 0.42 | 0.45 | 0.85 | 0.64 |
| Average receivables | $122.3M | $113.9M | $95.0M | $68.5M | $48.8M | $33.9M | $26.5M |
| Average payables | $210.1M | $184.5M | $160.5M | $134.9M | $102.2M | $56.6M | $32.6M |
| Average inventory | $2.8M | $4.0M | $4.7M | $4.5M | $2.4M | $7.3M | $13.8M |
| Intangibles / total assets | 13.5% | 10.5% | 10.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from MQ's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MQ valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 186.9 and the forward P/E is 30.5. Marqeta earned a return on equity of −1.5% in fiscal 2025. It ended the year with $21.8 million of debt and $1.1 billion in cash and short-term investments, a net cash position of $1.1 billion. It returned $391.4 million to shareholders: $0 in dividends and $391.4 million in share buybacks, 243% of free cash flow. The share count fell 13.9% from 134.3M to 115.5M over 6 years.
See the MQ income statement, the MQ chart for price history, or the MQ stock overview for the latest quote and news.
MQ key metrics FAQ
What is Marqeta's P/E ratio?
Marqeta's trailing P/E ratio is 186.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 30.5. At the end of fiscal 2025 it was —.
What is Marqeta's EV/EBITDA?
Marqeta's enterprise value was 82.2 times EBITDA at the end of fiscal 2025 (enterprise value $1.1 billion, EBITDA $13.8 million); the current EV/EBITDA is 47.8.
What is Marqeta's return on equity?
Marqeta's return on equity (ROE) was −1.5% in fiscal 2025: net income of -$13.9 million on average shareholders' equity of $923.5 million.
How much debt does Marqeta have?
Marqeta had total debt of $21.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.03 and more cash than debt.
Does Marqeta buy back its shares?
Yes. Marqeta spent $391.4 million on net share repurchases in fiscal 2025 Shares outstanding changed −10.9% over the year, to 115.5M..
What is Marqeta's free cash flow yield?
Marqeta generated $160.8 million of free cash flow in fiscal 2025, a free cash flow yield of 7.3% on its market value at year-end ($2.2 billion).
What is Marqeta's current ratio?
Marqeta's current ratio was 1.65 at the end of fiscal 2025: current assets were 1.65 times current liabilities.